Interpublic Group of Companies (NYSE:IPG) PT Lowered to $37.00

Interpublic Group of Companies (NYSE:IPG) had its target price lowered by Bank of America from $38.00 to $37.00 in a report released on Tuesday morning, Benzinga reports. Bank of America currently has a buy rating on the business services provider’s stock.

Separately, Wells Fargo & Company decreased their price objective on shares of Interpublic Group of Companies from $32.00 to $31.00 and set an equal weight rating for the company in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $35.00.

Interpublic Group of Companies Stock Performance

IPG stock opened at $29.09 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.75. The firm has a market cap of $10.98 billion, a PE ratio of 10.35, a P/E/G ratio of 3.10 and a beta of 1.13. The business has a 50 day moving average of $30.70 and a 200-day moving average of $31.70. Interpublic Group of Companies has a 12-month low of $27.20 and a 12-month high of $40.90.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.18 billion. Interpublic Group of Companies had a return on equity of 29.70% and a net margin of 9.97%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. As a group, sell-side analysts expect that Interpublic Group of Companies will post 2.8 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.54%. The ex-dividend date was Tuesday, June 4th. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.98%.

Hedge Funds Weigh In On Interpublic Group of Companies

Large investors have recently modified their holdings of the business. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Interpublic Group of Companies in the fourth quarter valued at $29,000. Voisard Asset Management Group Inc. purchased a new position in Interpublic Group of Companies during the 4th quarter valued at about $31,000. Tobam increased its position in shares of Interpublic Group of Companies by 2,340.0% during the fourth quarter. Tobam now owns 1,098 shares of the business services provider’s stock valued at $36,000 after buying an additional 1,053 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Interpublic Group of Companies in the first quarter worth about $42,000. Finally, Salomon & Ludwin LLC boosted its position in shares of Interpublic Group of Companies by 2,024.6% in the first quarter. Salomon & Ludwin LLC now owns 1,296 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 1,235 shares during the period. Hedge funds and other institutional investors own 98.43% of the company’s stock.

About Interpublic Group of Companies

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.